PJAM reports 34% decline in year end net profit attributable to shareholders

March 3, 2023

PanJam Investment Limited (PJAM) for the year ended December 31, 2022, reported a 45% decrease in total income to total $2.35 billion relative to $4.30 billion booked for the prior year’s corresponding period. Of total income:

Investment loss amounted to $758.82 million relative to an investment gain of $2.06 billion in 2021.

Operating expenses amounted to $2.46 billion for the year ended December 31, 2022 (2021: $1.86 billion), 33% more than its total a year prior.

Consequently, operating loss amounted to $943.25 million relative to a profit $2.50 billion a year earlier.

Finance costs for the period rose by 12%, amounting to $1.03 billion compared to the $914.42 million for the comparable period in 2021.

Share of results of associated companies amounted to $4.96 billion relative to $5.46 billion in 2021.

Profit before taxation fell 40%, closing the period at $4.37 billion (2021: $7.23 billion). Taxation credit amounted to $420.63 million, relative to $20.57 million reported in the prior year. Net profit amounted to $4.79 billion (2021: $7.25 billion).

Net Profit Attributable to Shareholders for the period amounted to $4.75 billion a 34% decrease relative to the $7.20 billion recorded in 2021.

Total comprehensive income amounted to $1.02 billion relative to $5.91 billion a year prior.

Consequently, earnings per share for the period amounted to $4.45 (2021: $6.76). The number of shares used in the calculation is 1,066,159,890 units. Notably, PJAM’s stock traded on March 2, 2023 at a price of $57.10 with a corresponding P/E ratio of 12.83 times.

Balance Sheet at a glance:

As at December 31, 2022, PanJam Investment Limited (PJAM) had assets totaling $67.42 billion, a 1% decline relative to $67.77 billion a year prior. The fall was attributed to a decrease in ‘Deposits’ which closed at $8.28 billion (2021: $10.82 billion).

Shareholders Equity amounted to $51.77 billion (2021: $51.96 billion) with a book value per share of $48.56 (2021: $48.74).



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